As you said....plexi (or lexan) is expensive, far more expensive than what people think.
Everyone has their own opinion....but I wouldn't use it at all. You are going to constantly have mosture in the bottom of your cage so it NEEDS to be completely sealed with something than can withstand constant water abuse. Wood absorbs water....it will wick water away from your substrate and WILL rot if it's not sealed.
Some people have used fiberglass resin but I like the idea of epoxy resin much, much better....it's going to be the same price, if not cheaper than a small sheet of plexi and it's 100% waterproof, nearly indestructable, low fumes, and usually available at Menards or a Home Depot. Menards sells it under the name of "Glaze Coat". If by some means you can't find it at a home improvement or hardware store, there are a ton of places that sell it online. Brand doesn't matter it's mainly all the same stuff.
You mix equal parts of it thoroughly (it comes in two bottles-a resin and a hardener), pour it in, and spread it around. Cover the entire bottom of the cage and at least a few inches above the top of the substrate level....spreading it around the entire enclosure is even better.
It dries hard as glass and will last the life of the cage. Used on bartops around the country. 100% waterproof.
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